CHARLOTTE – Honeywell is buying a provider of turbomachinery and optimization company in what its says will be a boost to its sustainability product portfolio.
The Charlotte-based tech firm says it will pay $670 million in cash for Oklahoma-based Compressor Controls Corporation.
“The acquisition will be integrated into Honeywell’s Process Solutions business and will strengthen Honeywell’s leadership in industrial control, automation and process solutions, enabling customers to accelerate their energy transition,” Honeywell said in a statement.
“The acquisition also bolsters Honeywell’s high growth sustainability portfolio with new carbon capture control solutions, where the same turbomachinery is used to achieve effective removal of CO2 from process plant emissions, and even from the Earth’s atmosphere.”
